This news item highlights a growing category in the applications market - analytic applications. Industry Analyst Report Cites Fair Isaac as Revenue Leader in Analytic Applications Market. Besides Fair Isaac's showing, no suprise given how long Fair Isaac has been developing analytic applications, this report shows that the market for this kind of application is growing fast - in 2004, IDC report that the market reached $15.1 billion, representing a growth rate of 12.3%. As the major application vendors like Oracle, Siebel, SAP add analytic capabilities to their products this can only accelerate. So what are the core technologies you need to build these kinds of analytic applications? Well, business rules and predictive analytics of course!
- Predictive analytic technologies let you generate executable models that predict the likely outcome of actions or the likely behavior of customers. This let's you analytically-enabled applications.
- Business rules let you manage these models and decide what you should (and are allowed to) do about what they tell you.
Enterprise Decision Management, the combination of these approaches, is about delivering analytic applications more quickly and more efficiently.